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the edges. we should actually fix it so we don't have this big problem which everybody knows is coming. the virtual consensus among economists is that we will have a debt crisis comparable to what greases having today. we want to do something bold that fixes the country and this is that rare opportunity. >> what about the $4 trillion plan that lawmakers have been talking about this week? it does not sound like that would satisfy the criteria? >> we don't know what the $4 trillion is. we hear about that over so many years. we don't know any of the details. that may be part of the cuts and the cap as we go forward. we think you have to look at this away a normal american family would look at this. cuts in the short term and cuts to make sure we are doing a dump and on this problem and the cap means we go forward and don't exacerbate the problem in coming years and then the real fundamental process requiring the federal government to do what every family has to do and every business has to do, have a balanced budget. we think that makes the most sense. >> does that have to be part of this
a big enough presence for the obama administration for him to fight. i did not mean it as an insult to him or to the senate. even in the world's greatest chamber, these interchangeable. >> in a world where are squashes are limited, the survivors and the the dead appeared >> i think that is true. >> what the declaration is about is how virtually every aspect of our lives we are seeing greater individualization and personalization. personalization. but is our very identity. in politics, we are still stuck between dr. jekyll and mr. hyde. it is the wolf man versus frankenstein. who is really going to get fired up? these are shorthand for the incredible narrow range of things we actually have for. >> these are all leaders. mitch mcconnell has only been in the senate for 26 years. it feels like a sentry. did you write that? >> i think that will play my coat off their masks welch on that one. we are not trying to make light of politics. politics is important. there are things worth fighting over. far to the problem we have is that people have tribal loyalties to team blew and team read. -
and more before there is any kind of a big deal. what's the move then if no meetings are planned today or no action over the weekend. you have the ability to come up with some type of proposal. what is the mood on capitol hill? >> it has ramped up over the last couple of days. there is a sense that this is a critical moment. there needs to be some kind of a deal that comes forth. as august 2 comes near, certainly tension seems to be rising. in the papers, proposes a tax cut or tax increase especially with some of the ways the gang of six proposal lays out the revenue raising. >> there's a sense that initially, when the gang of six came out, the budget chairman talked a lot about how it would be scored as a $1.5 trillion tax cut. there's some sense that even within their own proposal, the gang of six may use a different yardstick to measure things. >> why so long? why not especially when it seems incapable of doing something when it puts it into legislation? in some ways, they've had a new momentum be the idea of a bigger deal possibly still being on the table. we saw a couple weeks ago
, and everything, they give big tax breaks for the oil companies. the big manufacturers. they're taking jobs away from us. and why they think it is best to do that. i need an answer to that, because i work 40 years of my life, and now i'm disabled. and now they're talking about cutting everything. i just don't think -- i've even put my life on the line for this country, vietnam. why they think it's the right thing to do. host: thanks for your call. next up, a comment from hewitt, texas. tony, a republican there. good morning. caller: good morning. how's everybody there this morning? host: it's a little hot both temperature-wise and internally i think here. caller: yeah. you know, we deal with a few facts here this morning. that cut, cap and balance that was passed did two things that everybody just is totally bent out of shape about. one of which is that it would raise the debt ceiling, and we would give that community organizer everything he wanted. it also, at the time, would say that the united states would even have a downgrade in its debt rating. and what do we do? well, you got the presiden
the impact. but i'm wondering, two of the candidates will be coming out after this big debate here in washington. does that give an advantage or a disadvantage or is it unclear based on the outcome? >> well, it's unclear based on the outcome certainly. the congresswoman and the congressman have both been very strong in their opposition. >> no compromise. right? >> that will appeal to many people in the base of the party. and i think what you've heard from some of the other candidates is somewhat more equivocal position. though john huntsman this week came out strongly for the boehner plan and said it was the only plan going and that the republicans and everybody ought to get behind it. congresswoman bachmann in particular, i think, has staked out that kind of tea party position. and she'll probably benefit from that. i think the other candidates are trying to get a piece of that, but try to go more broadly. >> i think bachmann and to a certain extent paul also risk some pleasure of backlash, or could in their don't raise the ceiling at all and their positions, playing down is a pot
was just a time- passer and he wasn't even a big enough presence for the obama administration to fight for him to be their secretary of health and human services. i don't necessarily mean it as an insult to him or to the senate but let's face it, most of our elected officials even in the world's greatest deliberative chamber are interchangeable. >> you wrote this. "in a world where our choices aren't limited to john boehner and nancy pelosi, the survivors envy the dead." >> yes, i think that's true. >> and explain that? >> what "the declaration of independents" is about is how throughout virtually every aspect of our lives we are seeing greater individualization, personalization, the ability to mongrelize and hybridize our lives and our enjoyments and our very identities, and yet in politics we are still stuck between dr. jekyll and mr. hyde it's the wolf man versus frankenstein. who is really going to get fired up over nancy pelosi on the one hand or john boehner on the other. they are proxies or short-hands for the incredibly narrow range of choice that we actually have in elected of
been seen as the party of big spending in government. right now, voters are in a position where they want to see less spending. one gets down to specifics, they are more on the side of democrats. the paul ryan plan is very unpopular but the measures the democrats propose like increasing taxes on the wealthy and ending subsidies for corporations is very popular the democrats need to reach a credibility threshold on fiscal issues. they need to be willing to say that we need more government accountability. if they can agree to a down payment and get a boat on the record of cutting spending, it helps them reach that far. they want to move to a larger debate where the public is on their side about priorities and what is the next step. they want to from that republicans want to eliminate medicare for those under 55. they can cut some things that will affect the middle class since seniors but we want to end the subsidies for oil companies and the jets owners. if they can get bear rather than debate about cutting spending more or less, going into 2012, there will be a good position. hos
, onewas coming to a a of the big interests in alo and huffington post, walter manchin the field, one of the first things that people said to me was, aol lost his way not because of the business model but because of the community and the ability for people to actually comment on what was happening. as i travel around, whether people commenting on articles they saw or things that they did, one of the most disappointing things that happened at the aol's community- based was not being able to comment. all the common in technology was stripped off of the company. we went from the most engage community to the least engaged in the world. i think that area and i brought that back. when aol went down, they took that away. a lot of the features in facebook were things that he grew up using on a a well. it's an important part of our business in the future. >> for those of us old enough, we remember when you dial up aol and you hear that iconic modem sound and the "you've got mail" peace. to go back to that, you have a startup incubating in a large corporation. is it important for the user to kn
.5 trillion does not make any of the big issues go away. sooner or later republicans are going to have to swallow some revenue increases. host: what is the purpose of today's news conference from the president? caller: the purpose for the president is to set a delicate balance. on the one hand he wants to claim the political high ground, i assume, saying that he tried and pushed for historic bipartisan achievement. unfortunately, we will like it there. the reason is that republicans will not sign on to a bold, $1 trillion tax overhaul. so, he wants to show the voters that he is the big negotiator. everything that he said the revlon in 2008. but he does not want to poison the well to make these negotiations for the rest of the week. >> what is the main message coming from republicans going into this meeting? >> it would seem that their main message is probably going to stay the same period that we are for a big deal, but not a big tax increase. or any tax increase. once again they will be challenged to expand on this sharp rhetorical edge. id is a distinction without much of a differenc
, go big on the debt sale. my number one focus is getting our economy back to a place where businesses can grow and hire. extending tax relief for middle class families and putting construction workers back on the job rebuilding roads and highways. in the past few months they have said, we are willing to cut historic limits in order to reduce our deficit. rpt president obama also said about raising revenues. it is a position that's been taken by everyone from warren buffet to bill o'reilly. it is a position taken in the senate by republicans that are working on a promising plan of their own he writes "right now we have the opportunity to do something big and meaningful." we go to north carolina. we continue our take-off of the wall street journal headline, "america nears the brink." caller: i don't care. they can keep my disability, they can keep my pension. i'll just work like my mom and dad and everybody else did, until i die 678 that's just how it is. it is. like i heard a guy say on the military channel, the stuff that's happened to him because of world war ii. you just have to suc
it is that momentous. the flurry of talk last week about going big and swinging for the fences were underscoring the idea of the president and the speaker to persuade the democratic and republican rank- and-file to go for something as big as $4 trillion. it was a long shot to begin with. both sides decided to spend a few days pursuing this long shot and it turns out that speaker behner blinked first. he was the first one to realize publicly that he did not have the votes in his own troops to get this through because it would require too much. host: if the number goes down from $4 trillion, what gets left behind? guest: you go from $4 trillion down to something. the fall back number we think is $2.50 trillion. that is the amount of deficit reduction that would be necessary to get republicans to vote for an equivalent amount of debt ceiling increase. that is what is required to keep the treasury in the flush to get for the next election. that is the number and we know that the vice president had six members of congress and they were pretty close. they were at about $2 trillion. entirely from the s
] >> of the gop republican priority no. 5 was the reckless domestic budget which extends tax breaks for big oil, cuts education, lifesaving medical research. it cost americans 1.7 million jobs by 2014 with 900,000 jobs lost next year. let's get rid of these guys. >> another example of what the democrats do what we are in the majority -- the children's health insurance program, providing health care for 4 million more children. we did that right out of the gate when the democrats took the majority. >> i get to do all of the republican priorities and you get to the democratic priorities? here is what they get -- if they don't have health care, don't get sick. there repealed patients' rights and limited health care for 32 million americans and allow insurance companies to deny coverage for pre-existing conditions. they increased premiums for families and small businesses. boo. >> when the democrats had the majority, we pass the american recovery a reinvestment act cause save the economy from going off the brink, cut sad -- cut taxes for small businesses and invested in building american and the st
, a big thank-you to the staff, without mean, this would not have been possible, as usual. thank you very much for all you did. [applause] let me just say, we have a lot of work to do. let's make hay with the sunshine. those involved in the press conference, could you please go immediately to grand ballroom be because we are late. [laughter] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2011] >> wrapping up this session of the national governors' association from salt lake city. we just heard from washington state governor, the chair for this summer's conference. we will have more events throughout the weekend. tomorrow afternoon o'clock 30, the session on remembering 9/11, protecting borders and communities. on sunday at 1:30, the closing session. you will also be able to find all the segments on line in their entirety at c-span.org -- online in their entirety at c- span.org. it >> this weekend, live from salt lake city, the nation's governors look at the net the -- lessons of 9/11, and the featured speaker talks competitivenes
going to do a big thing. it was going to be a big surprise. they get hundreds of thousands of these every week. they have a strong following. every year to a takeover youtube with people taking over youtube about what is awesome in the world. youtube has partnered with them. it has been amazing. it has increased awareness for all of these organizations. to speak to his birthday, on his birthday last year, johnson, hank, you are 30. i realize you do not like many things. you do not like stuff. i did not know what to get you. but then i remembered you like oxygen. for your 30th birthday, we have planted 20,000 trees in your name. then he showed a 10 minute video of people in iraq, all over the united states, almost every continent except antarctica. this beautiful music of people planting trees with signs a said happy birthday, hank. we work with them in the aftermath of the earthquake in haiti. we worked with all of these different people. we reached out to everyone we possibly new including j.k. rowling who sent us seven harry potter bucks. we reached out to the actors in t
statements in that meeting, because we don't know what the details were of his proposal and the so-called big deal, my insistence was consistent with our speaker's, that we not raise taxes. and that's why that construct doesn't work. we don't have the votes on this side of the aisle. i'm not supportive of raising taxes on people who are trying to make it right now and can't. so i would say to the gentleman when he refers to the other groups that have been out there, all of whom he say suggest that somehow we need to raise taxes, what the gentleman's talking about is how are we going to produce more revenues? we believe, mr. speaker, that you produce more revenues by having growth in our economy. we don't believe that you promote growth in the economy by cranking up the government spending machine by taking money from people who eastern it, washing it through washington's bureaucracy, and sending it back out. we don't believe that. we believe that growth is created through investment, through hard work in the private sector. by entrepreneurs, small business men and women, people who want to su
. host: mississippi, janet is next. caller: i feel as long as our politicians are bought by big corporations, we cannot trust the word that they say. they will do what the corporations want. the supreme court gave corporations the right to be individuals. they do not have rights like individuals. they are individuals themselves but they should not make the decisions as far as who represents the people. a lot of people would call me ignorant, but i know how to balance my checkbook and if these people cannot balance their checkbook, they need to go home and learn how to. host: fixed the political experts from the book -- brookings institution says -- that they hash it out in private first. your thoughts? caller: my thought is that if people cannot get together and talk it out, compromise, what is the use of having separate get together is? tempore i know that i sound ignorant, but people need to sit down in a circle and come to a conclusion. host: another twitter message from boring file clerk, writing -- host: chattanooga, tennessee. gerry, go ahead. caller: thank you for c-span.
at the federal reserve. we want to help get rid of the perception of too big to fail. lehman brothers is the only example of a major financial institution in a developed country that was allowed to fail. the evidence clearly puts this to rest the notion that we did not deal nottoo big to fail. there are a couple of areas where i see the attack coming. my republican colleagues, on like climate change and health care, don't want to take this one had on. it is still too popular. coming to the defense of unrestricted derivative trading is not a popular cause. they are coming at it sideways. they want to use the deficit as an excuse for under-funding the sec and cftc. they have a small percentage of what we're wasting trying to build infrastructure in afghanistan. the notion that the $90 million more that we need for the cftc because of the deficit is nonsense. they want to turn the sec into a profit center. you have a catch-22. first denied the sec and the cftc adequate funding. they in turn will not be able to deal with the rulemaking requirements that they have. because they have not been able to m
was ready to try again to do something big to control the debt. the ensuing days, the two sides forged common ground on the strategy raising the debt limit and cutting more than $4 trillion out of the federal budget that would take place through 2021. the speaker put out a statement in connection with the comments he made to the press yesterday. here is a bit of it for you. he said: in the end, he writes, we couldn't connect. not because of different importants, but different visions for our country. the president is emphatic taxes have to be raised. i know that tax increases destroy jobs. the next page, mr. boehner goes on to say, the president is adamant we can't make changes to entitlement program. i know the programs won't be there for my daughter's generation unless significant action is taken now. i have decided to end conversations with the white house and begin conversations with the leaders in the senate in an effort to find a path forward. again, the leaders are going to the white house today to meet with the president. the minority leader also putting out a statement becaus
here by not paying for and creating an awful lot of debt. not paying for two wars. not paying for big rates, big cuts to forma, medicaid. not paying for to act -- for tax cuts. the president found himself $10 trillion in hole in dealing with the worst recession since the great depression, as well as having to come up with money for a recovery. where did those moneys go? most of them went to help states and municipalities. many used that to stabilize states with a stimulus package that many, including myself, did not think was strong enough to sustain economic recovery. we saw it, no matter how fragile, with the small recovery that we had. one-third of the money of a $1 -- $9 billion package was utilized to help states and municipalities balance their budgets. one-third of the money, the largest tax cuts, went out in the history of the country. people did not really notice it. they started getting extra in their paycheck, but there was nothing in there that said -- this is a big tax cut for you. in one-third of it was used in infrastructure programs. not enough, in my estimation. cert
call, while we're waiting, is from big sandy, texas. scott is a republican. good morning. caller: yes, susan, if i were a republican and in the negotiations, i would continue to bring up the immorality that the democrats are willing to -- and the fact that they're willing to steal the liberty of future generations with this humongous debt. they need to hold their feet to the fire, and in the end, obama and the democrats will have to come around. there's no doubt about it. we've got the upper hand. even though you've got the press on the president's side, and i want all these democrats that have called in here supporting obama this morning, just ask yourself, are you honestly better off? has his policies actually helped this country? or is it sending this country to oblivion? none of his policies, none of his stimulus, none of it has worked. not one single bit of it. we're worse off now than when he took office, and we're continuing to go downhill. it's time this iron-headed fool relent and let the adults take over. host: thanks for your call. scott from big sandy, texas. here is speak
been going on now since the big deal talks between boehner and obama broke down on friday among all the congressional leaders on how to fix basically one problem. that is, how long the debt limit increase we will do. they have not been able to resolve that problem. host: do you think there's a chance the house really will leave town? guest: i do not know. no one would confirm that. there were rumors yesterday, mainly from democrats. republicans said they had heard nothing like that. democrats also said they would be surprised if the house would do that. it will look terrible with this crisis hanging over the nation. crisis hanging over the nation. it has happened in on other occasions. host: lori montgomery, according to the senate schedule, harry reid will be announcing the schedule at 11:00 a.m. have you heard anything? guest: i have not. when i left last night, it was not clear. they were still planning to proceed as they have been talking about for a week. that is, when the house bill comes over, they want to tilt it -- to kill it. it's not clear how they will do that. will they
are too big to fail, and that policy has failed. but the one thing that will not fail, for it is to majestic to ever letdown lady liberty, is you, the sovereign american people. [cheers and applause] through your hard work in your principal devotion to bequeathing to your children a better america, have no doubt that we will restructure the government for the future so that it is citizen-driven. we will restructure the wall street banks so we can grow our economy and shape the next american economic century. [applause] we will defend america from her enemies, and we will always support our brave men and women in uniform that are sacrificing so much for our security and liberty. we will expand freedom to the oppressed to ensure freedom at home for ourselves and we will stand steadfast with our allies in this endeavour, notably over deer ally, israel. [applause] and all those seeking to break off the shackles of oppression, be it in iran's green revolution or in a communist oppressed blends guzman revolution, or be it those who stand up to chavez or decastro in latin ame
things that dampen economic growth and the u.k. is finding this out now, they adopted this big austerity budget, and there's a good chance that economic activity will go down so much that tack revenues will be reduced even more than spending is cut, and their deficit will increase. so why are we talking more about the economy and less about this? partly because the republicans who control the house and have a lot of votes in the senate have now decided having quadrupled the debt in the 12 years before i took office and doubled it after i left that it's all of a sudden the biggest problem in the world. [laughter] i'll come back to that. but i want you to think about it. because i hate these deficits. and i was appalled that the debt was doubled in the eight years after i left office. and i think the fiscal condition of the country did make us weaker in dealing with the financial crash. i'll say more about that in a minute. but you have to know about what works. there's almost no discussion in this debate. i read the articles every day about the timing of whatever it is they do and whether
of congress get themselves. anda raw deal in a big way. -- a raw deal in a big way. with that i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from ohio. mr. jordan: yield one minute to dr. fleming. the speaker pro tempore: the gentleman from louisiana. mr. fleming: thank you. mr. speaker, but for the president of the united states who serves today a a democrat-controlled congress over the last two years we wouldn't be here today debating this. $3.8 trillion added to our debt and continuing on that same glide path. mr. speaker, we're here today because people across america, businesses, cities, states, all have to balance their budgets. the only game in this country, the only entity that doesn't have to balance its budget is the federal government. and that's what's ruining our economy. so all we're asking for in this bill is simply to immediately cut $111 billion in fiscal 2012, begin capping our spending rates, bringing it down to what's traditional, 18%, and then finally passing a balanced budget amendment that will finally put the res
with big business. they break stories on big business is being corrupt. then you have the right of center papers that are obsessed with big corporations -- i mean, with big government. there. it is cool parity i am not for the outing -- the suppression of the adding of corrupt republicans. there is a huge difference. i am totally for all of these republican screwballs to get into trouble getting fired or quit saying today that they get caught, not stretching out for three ludicrous unbelievably weeks. thank you very much, congressman weiner. thank you. i loved every second of it, congressman weiner. especially the hack part. i am the hacker. so we are fighting back. we are entering a phase where objective and neutral journalism is now laughable thing of the fast. it does not exist. i met the people that trotter pretzel themselves into being totally neutral. no one is neutral in the entire world. you have used the cudgel of false neutrality as a means to push the american narrative to the left for the last 40 years. to hell with it. i am sorry that i am being honest and i believe in freedo
choices today -- do we want to keep repeating ourselves or do we want to look at the big car rise in and do inspirational things we have already challenged ourselves to do? my generation, together with those that followed, built the isf. today anash @ -- nasa and the others want to touch an asteroid and move to mars. the status quo is no longer exceptional. -- acceptable. the students and early career scientist had a ton of energy and enthusiasm. they are excited about the chance to do something new, to be it on the ground floor of the next big frontier of human exploration. to put their big ideas into practice, and they should be. if you are studying in a stems discipline today, you love a great career ahead you, not just at nasa but at other government agencies and academia. when that final shuttle landing occurs, and the cheers and jeers subside, we will keep on moving to where we want to go next. your kids and my grandkids will do things that today we can barely dreamed of. our nation has made great progress the west's history by innovating solutions to meet grand challenges,
chart has given a lot over the years. we call it the big shot. in the last few years, change has happened in terms of the long-term stability, brief moments of disturbance, changes in 60 years of stability. we reinvented work practices and other practices. what has happened now is in the last 10 years, we are moving to a different kind of infrastructure proven by the digital loss of competition. now we find having a world in which we have constant disruption nearly every year. the challenge is how do you start to leverage that rather than fear that in terms of driving innovation in? it will not slow down for the next 30 or 40 years. let me say this personally. i can recapitulate the last 10 years of my life. it took me from this class to cloud computing come into graphic processing, that is scientific computing a fraction of the cost, now into a very limited form of competing. i have had to relearn almost everything i knew as a computer scientist. dealing with the plains regarding amazon and microsoft. i had to think about how to move these processing units. there are single proc
companies are earning big money. we've got a real problem here. we want to do the right thing and we want to protect people. that is the end of may. i call on senator ihop. >> i want to thank you for holding this important hearing. you and your staff to put a great deal of time and effort into preparing the investigative report the committee released today. i also want to thank those at the federal and state levels who have pushed for the legal action. i want to recognize a former colleague, lisa madigan, the attorney general in illinois who i worked with. she has been active in this field and i welcome heard here this morning. for more than a decade, new hampshire has had a primer for responding to a practice known as cramming. when i served as the state's top law enforcement officer, and oversaw an active protection -- consumer protection bureau which include the publication of consumer protection source book and brochures to provide individuals with information how to protect against cramming. in new hampshire, the public utilities commission is authorized to find service providers and
if a big bank goes under. second, it said to wall street firms, you can't take the same kind of reckless risks that led to the crisis. and third, it put in place the stronger -- the strongest consumer protections in history. now, to make sure that these protections worked - so ordinary people were dealt with fairly, so they could make informed decisions about their finances - we didn't just change the law. we changed the way the government did business. for years, the job of protecting consumers was divided up in a lot of different agencies. so if you had a problem with a mortgage lender, you called one place. if you had a problem with a credit card company, you called somebody else. it meant there were a lot of people who were responsible, but that meant nobody was responsible. and we changed that. we cut the bureaucracy and put one consumer watchdog in charge, with just one job -- looking out for regular people in the financial system. now, this is an idea that i got from elizabeth warren, who i first met years ago. back then -- this is long before the financial crisis -- elizabeth wa
the state of pennsylvania has come in and said defaulting on the debt is not that big a deal. it can be, quote in his words, easily managed. does the senator from arizona agree with that thinking? mr. mccain: as the senator may know, i came to the floor a couple of days ago and made that comment, and the senator from illinois and i are in agreement, point number one. you can prioritize -- i think the senator and every economist i know literally would agree. you can prioritize for awhile where you want what remaining money is left. but the message you send to the world, not just our markets but to the world, that the united states of america is going to default on its debts is a totally unacceptable scenario and beneath a great nation. we are in agreement, number one. mr. durbin: amen. mr. mccain: number two is that to insist, to insist that any agreement is based on the passage through the united states senate of a balanced budget amendment to the constitution of the united states, as i said before, is not fair to the american people because, because the terrible obstructionists on this
not looked at this in the last week or two ago, but the big numbers are going to be interest reduction and employer provided health insurance. people have written about these. these are significant sources of revenue. i think the distortion on health care choice is created because the deduction on health care insurance is significant. housing is hugely important, but i do not think it has to do it leverage in the financial crisis. you look where you can get the kind of money you can talk -- you are talking about. >> excessive leverage in the financial sector. the very biggest bank and their use debt impose risk in the system. it is completely consistent with the broader assessment from the right and from the left in regards to to big to fail. we have tried to do with that in various ways. nobody is impressed. standard and poors said yesterday that they think the government would still have to support major financial institutions if they fail. >> mr. johnson is recognized. >> thank you, mr. chairman. mrs. olson, i in your testimony you talked about reform alternatives that you believe s
, this is a debate about our economy, and frankly is a big debate about the future of our country. until recently, the president was demanding that the congress increased the debt limit with no strings attached. as a matter of fact, the treasury secretary sent me a letter two days after we were sworn in demanding that we give him a clean increase in the debt limit. i responded and told the treasury secretary at the american people would not tolerate a clean increase in the debt ceiling unless there was serious spending cuts attached and will reform in the way we spent the american people's money. i went to new york city in may and gave a speech to the new york economic club where i outlined the challenges we were facing and i made it clear that we would not increase the debt limit for the cuts that exceeded that increase in the debt limit and that there would be no new taxes and that there would be serious spending reforms put in place. it is time to get serious. i'm confident that the leaders here in the congress can act, the white house will give serious, we will. >> your own aides say that the
of our site. president obama has given us a mission to focus again on the big picture of exploration, the crucial research and development required for us to move beyond where we are. we have the mission to carry out something that will take us further than we have ever been. he has asked us to plan a mission to an asteroid. our spacecraft is approaching one of the biggest in the solar system. we are scuttled to drop into orbit around that asteroid later this month. did the president is asking us to harness that american spirit of innovation, the drive to solve problems with capabilities that are so embedded in our moon. that led us to the loa that american ingenuity is alive and well. it will help us win the future. but only if we put aside ever differences and come together to work hard, dream big, and imagine in the possibilities. the space shuttle is an amazing vehicle. an incredible program that has taught us many things to make tomorrow's expiration possible. every shuttle mission showcases the amazing talent and expertise of of our astronauts in robotics and a science. each mi
: this is an upper biggest problem. we are left with a big deficit. all they talk about is cutting. -- host: we will have to leave it there. when it comes to government spending issues are concerned, that is what we are weighing in right now. good morning, james, independent line. caller: 5 believe the oil companies and big businesses should pay their fair share. republicans are nothing but a bunch of lawyers. they have -- lawyers. -- liars. they have been line ever since george bush was in there. host: what kind of spending and programs are you talking about? caller: all of their subsidies and not paying any taxes. host: we will leave it there. please turn down your television sets when you call in. florida, this is a comment from twitter. another call from minnesota this morning, what to cut what to keep? caller: i am a republican. it is hard to hear that we are the party of no, no, no. at the federal level, of our government has shut down because they cannot come together. republican-led states that do not have cannot of raising of taxes, the states are not in a deficit and not in a shutdown
went to that were big money because i grew up in a middle-class home, it cost $22,000 to go, you played tennis and eight food. host: there are pictures this morning that showed a couple of scenes from inside the white house. this is from "the washington post." this is a picture of first lady betty ford and her daughter susan. the description says, "the first lady and daughter susan killed time and the president's office in 1975. in 1980, the pair lost national breast cancer awareness month. mrs. ford became an awareness for early detection. " there's a picture for 1979 and this shows mrs. ford said in a longtime -- alongside liza minnelli and liza minnelli at studio 54. the next one shows mrs. ford, that she was quite the denser and loved to do so. those pictures are all found in "the washington post"this morning. we're talking about the passing of betty ford died yesterday. we are taking your comments and tweets on the subject. new york, republican line, go ahead. caller: good morning. i want to say a few things. i thought betty ford was very innovative and incredibly supportive and sh
for the tabloids. host: what about the broadsheets? guest: it is known occasionally. there was a big scandal about mp's expenses last year, which came from information that is the voice of -- information that is the will serve and got on a computer disk. my newspaper paid for that because they thought it was in the public interest. that is a rare instance of a broadsheet paper paying for information. for the tabloids, we call it checkbook journalism. salacious information about a night out on the town with a celebrity or pop star or encounters with celebrities. that culture has grown and become more insidious over the past 20 or 30 years. host: how would you describe, to help put it in perspective -- by the way, we will put the numbers on the screen as we continue this conversation about the phone hacking investigation in the u.k. prime minister cameron spoke this morning at a problem about it and we carry that live on c- span -- spoke this morning in parliament about it and we carry that live on c-span2. we carry rupert murdoch and rebekah brooks yesterday and we will speak about that. how do you
us a mission with a capital "m" -- to focus again on the big picture of exploration and the crucial research and development that will be required for us to move beyond low earth orbit. he's charged us with carrying out the inspiring missions that only nasa can do, which will take us farther than we've ever been -to orbit mars and eventually land on it. he's asked us to start planning a mission to an asteroid, and right now our dawn spacecraft is approaching one of the biggest in the solar system, vesta, and we're scheduled to drop into orbit around that asteroid the middle of this month. what it finds out could help inform such a mission. the president is asking us to harness that american spirit of innovation, the drive to solve problems and create capabilities that is so embedded in our story and has led us to the moon, to great observatories, and to humans living and working in space, possibly indefinitely. that american ingenuity is alive and well, and it will fire up our economy and help us create and win the future now, but only if we put aside our differences and come togeth
. well, yes and no. in their derrick the church was the big power. kings and queens could not move without the permission of the church. nowadays it is big business. when you have big business influence washington, d.c., people like yourself, this is what you are going to get. you cannot have foxes guarding the hen house. host: all right. your response. guest: if you talk about specific tax credits, i think he's right. i don't think it is just big business. i think it is the aarp, i think it is the big labor unions. i think it is everybody. the whole fact is the federal the whole fact is the federal government is too big and it is in areas it shouldn't be. if you read the constitution, you also read the enumerated powers which gives limited powers to the federal government and specifically states everything not listed here is reserved for the people in the states. the reason we have a $3.6 trillion, $3.7 trillion budget, is a trillion and a half of that or more is stuff that's not our responsibility in the first place. sho look, i'm one of the few republicans that stands up and say
to have a big, serious debate about what we believe is the right way to guide america forward and when the future --win the future. i am confident i and i am confident that we will win the debate because we have the better approach. but in the meantime, for everyone's a while we can sit down and do something that actually helps the american people right now. >> you consider raising the debt ceiling fairly routine, but at this point is economic, garden. how can you get any agreement with congress? >> -- it is economic armageddon. how can you get any agreements with congress? >> i will keep working hard on it and i hope that this debate has focused the american people's attention a bit more and will subject congress to scrutiny. i think increasingly, the american people will say to themselves, you know what, if a party or politician is constantly taking the position constantly taking the position of, "my way or the highway ," constantly been locked into ideologically rigid positions, then we will remember that at the polls. it is cumulative. the american people are not paying attention t
it extreme, radical. imagine that. only a big spending washington liberal could think it would be radical to require washington to start living within its means like families have been doing for years. and so frankly american families would say it's about time, welcome to the party. and instead some people think you can just live in this fantasy land where you can keep tax, taxing, spending, borrowing money from china and act like the day of wreckening never is never going to come and kick the -- wrenging is never going to come and kick the can down the road. it's time to say enough is new. we're going to deal with our problems nod. we're going to set priorities today and do the tough things people sent us to do and that means cutting, capping and balancing the federal budget. i yield back. the speaker pro tempore: the gentleman's time has expired. without objection, the gentleman from maryland is back and is recognized. mr. van hollen: thank you, mr. speaker. again, the choice is not whether we put in place a plan to reduce the deficit and balance the budget. the issue is how we do that.
was named o'brion. we will focus on what we need to do to get as that big rocket that allows us to go exploring. we can move beyond our home planet. today is a great day to celebrate. there are a lot of highs and lows as we give hugs and say goodbyes and take pride in what we have accomplished. it is pretty amazing. >> it has been a heck of a day and a program. i had the same kind of sentiment. i am incredibly proud to be here representing the thousands of people that do the work. to the kennedy team is doing an amazing job. you solve this performed almost flawlessly. almost hardly any issues. the teams back at johnson space center is world class. there is none better for flying the plan. they lead an amazing team of folks. then our friends up in the marshall space center. they have incredible hardware to get this up into orbit every time. it has been fantastic here in the home stretch. we have been talking about finishing strong and finishing on the target. when you the back, the shuttle program has racked up quite a history. we did 1300 days in orbit. this is about 43 months of time
and in the blue outline we have this very hard rock. we don't know how this is formed. it's a big mystery to us but it looks very special and it's one of the thing that is goes along. then we can drive out and go out to where it says clays, which is one of the types of minerals. and that patch of green there is a place that we would study. then we go up into where it says sullfathes another kind of a hydrated mineral and then we work our way up the mound. so we're exploring a jee logical environment that consists of a stack of layers. so let me skip to the next one. why do these layers matter? well, this is the history of geological exploration on earth and 150 years ago when explorers discovered the grand canyon they discord these layers of rock. if you start at the bottom of the pile of layers and go to the top, it's like reading a novel and we think that's going to be a great novel about the evolution of mars that offers strong prospects potentially for the discovery of habittable environments and maybe even a shot at potentially discovering organic compounds. but even if we don't find those
a story saying that big mortgages are back. the financial times and its financial section has two stories of highlights, one talking about stress tests and you may have remembered those from a few years ago done in the united states to test the fiscal capabilities of u.s. banks. this takes a look at european banks. but the one story from new york this morning looks at city baverbing looking at their profits, surging 24% to $3.3 billion. city results mirrors jp morgan. we have been talking about the notion of comfroms when it comes to discussions about the debt and should congress members of the congress republicans primarily as far as these discussions go, and the president, compromise on their ideals when it comes to debt talks? all available for you to join us. e-mail and twitter as well. new jersey. go ahead. caller: good morning. i would just like to say that i wish that the congress would do like the president said and try to put aside their issues just this once. so that the country can be saved economically. i'm so tired of the posturing that they continue to do in the house of rep
on every aspect of our society to get this problem under control. >> [inaudible] >> everyone agrees a big deal with the best. the president says that. i believe that. the folks behind the believe that. we still believe it is possible to have a comprehensive proposal here that in a serious way addresses this enormous debt problem we have. i have not given up hope that that may happen yet. thanks a lot. >> a group of senate democrats held their own news conference, where they reiterated their demand that any budget agreement include more tax revenues from those making more than a million dollars a year. this news conference begins with a michigan senator. this is half an hour. >> good afternoon. on april 15, the house of representatives voted to end medicare. the wanted to use that money to balance the budget. rather than using it to balance the budget, they used it for huge new giveaways to millionaires and special interests. their plan protect spending on massive tax earmarked for drug companies, oil companies, companies that outsource jobs, and well-connected special interests. let me ju
money for a tiny wheel, about this big, the onus is on the defense department to get these costs under control. i do not think congress will just let them come especially with the budget coming down, looked the other way. host: megan scully with "national journal." and the piece is called "the pentagon premium." thank you for joining us. we will be back at 7:00 a.m. we go to the floor of the house of representatives. continue beyond 11:50 a.m. the chair recognizes the gentleman from oregon, mr. blumenauer, for five minutes. mr. blumenauer: we begin another week in political wonderland. the dow falls 100 points at the opening bell. what is it that we should do? well, if we had the knowledge and problem solving skills of college sophomore economic students or women in a church study group, before the week is out we would establish some simple steps. first, we would understand that in a divided government with real economic challenges no one group is allowed especially those representing a minority of opinion to have their way entirely. we would begin by repealing the silly debt ceiling
procedure, the regular order but have attempted to solve this big problem in secret, behind closed doors with just a few people. i believe that is contrary to the historical understanding of the role of congress and i'm not happy about it, i oppose it and i object to it and i expect an appropriate amount of time to consider whatever plan comes >> with titles like "slander," and coulter has something to say. now, your chance to talk to the best-selling author. in death, for three hours starting at noon on both tv. >> the former u.s. comptroller general david walker of the nation pose a growing debt and budget deficit challenges. from "washington journal,", this is 30 minutes. the former u.s. comptroller general and now founder and ceo of the comeback american initiative, david walker print a good morning. forve said it is a bad idea the congress and president to flirt, so to speak, with the august 2nd deadline of hitting a possible debt default. what do you think is going on right now and are concerned there is not a deal in place yet? guest: i am concerned. if everybody is true to their
with the pie. [unintelligible] host: do you think that this is a big deal at all? in aer: in a way, yes, and a way, no. he is a nice man, but he is too old. it takes a man that this young to do something like that host: do you think you could run all of those companies? caller: me? i am a painter. host: i know. i have your painting in my office. caller: my wife is looking at me and telling me to tell you good morning. host: good morning. send me your e-mail address and i will send you a picture of it in profit -- in my office. caller: listen, my wife's birthday is tomorrow, she turned 81. host: that is right. you married an older woman. mr. peterson, you enjoy that heat wave in texas. we have got to get moving. we appreciate it. this would message, regarding the phone hacking scandal -- host: mike is a republican in arizona. hello. caller: i can see this going on in great britain, i guess the police are involved. but then they are doing it for us in the same manner. scanning e-mails, looking for certain words and what ever. i do not see any difference. i mean, they are exchanging inform
objective of the reform is the madigan threats to stability imposed by the too big to fail problem. here in the act takes a two- pronged approach. this includes enhanced risk based requirement, credit limits, stress testing, and remediation regime and activities restrictions. the fed and other agencies face the challenge of aligning regulation with international agreements. these efforts are going well. the federal reserve and expects to issue rules over site of cfis this summer and we are on schedule to implement basel 3. and being too big to fail requires allowing a cfi to fail. the second part of the act empowers the fed and the fdic to reduce the affect on the system in the event of a failure to tools such as liquidation of authority and approve a resolution planning. the federal reserve is working with the fdic to thecfis prepare for resolution by adopting living wills. the joint rule is expected this summer. reducing the likelihood of a severe crisis requires strengthening the resilience of markets an infrastructure. toward that end, provisions to improve the transparency and stabi
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